The concept of the business came from my outlook of the economy and the type of business I plan on opening is a Bar & Grill. A Bar & Grill can be used for many different reasons such as a lounge, a place to grab a bite to eat, network, or just somewhere to relieve everyday stress.
The type of skills that are needed for this job is… * Bartending License (1 year minimum experience) * Culinary License (1 year minimum experience) * Confidentiality * Detailed Oriented & Conscientious * Flexible & Adaptable * Outstanding Communication Skills * Resourceful Problem Solver
-Where would be the best place to open a bar? Downtown Areas of Cities
-What type of customers do I plan to attract? Broad range of diverse people
-What will be the name? Shea’s Bar & Grill
-Where will I get the money? Bank Loan
-Would this be the right time to open a bar? Considering the economy yes it would
-What other revenue coming in to the business? Food and Alcoholic beverages
-How can I get customers attention? Flyers around town as well as ads in newspapers and phone books
-Who would be my competition? Any other businesses in the same specific line of work
-What would be the best price to start off for the customers? Reasonable pricing
-Do I plan on partaking on venture capitalists? Depending on the first 6 months to a year’s revenue of the business.
There are plenty of people who will invest in a new small business but the question is not who is right for me but am I right for them?
Most investments are made on the decision of which is if they believe the business is worth investing in. The way I plan on financing this business is by letting it sell itself now when I say that I mean making the business more efficient so that people feel like they’re getting their money’s worth. The way I plan on going about this is to take out a loan and hire only those who I see fit the criteria, I have come to realize that nothing is the same anymore and that people only look for new and improved, so on that note I plan on having only the opposite on the table. Most bars have what we call shot glasses, now these glasses are small enough to consume a legal amount of liquor, there typically clear and are an oval shape. Now the type of shot glass or cup I plan on going with are small clear (Pink for ladies and Black for males) with a curved rim and a slant of a glass or cup. Doing this I have just set aside my bar from the rest and improved my business by distinctiveness.
Ownership and business structure:
Sole ownership- Owned and run by one individual and in which there is no legal distinction between the owner and the business.
Partnership- Is an arrangement where parties agree to cooperate to advance their mutual interests.
The type of ownership…